Principal Financial Group Inc. Buys 47,647 Shares of Progenics Pharmaceuticals Inc. (PGNX)
Principal Financial Group Inc. raised its stake in shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) by 8.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 594,849 shares of the biotechnology company’s stock after purchasing an additional 47,647 shares during the period. Principal Financial Group Inc. owned 0.85% of Progenics Pharmaceuticals worth $4,039,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. BKS Advisors LLC grew its holdings in Progenics Pharmaceuticals by 35.4% during the second quarter. BKS Advisors LLC now owns 145,115 shares of the biotechnology company’s stock valued at $985,000 after purchasing an additional 37,915 shares during the period. Royce & Associates LP grew its holdings in Progenics Pharmaceuticals by 7.7% during the second quarter. Royce & Associates LP now owns 1,346,374 shares of the biotechnology company’s stock valued at $9,142,000 after purchasing an additional 95,700 shares during the period. Virginia Retirement Systems ET AL grew its holdings in Progenics Pharmaceuticals by 64.6% during the second quarter. Virginia Retirement Systems ET AL now owns 45,100 shares of the biotechnology company’s stock valued at $306,000 after purchasing an additional 17,700 shares during the period. Cadence Capital Management LLC grew its holdings in Progenics Pharmaceuticals by 70.4% during the second quarter. Cadence Capital Management LLC now owns 192,413 shares of the biotechnology company’s stock valued at $1,306,000 after purchasing an additional 79,500 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in Progenics Pharmaceuticals during the second quarter valued at about $1,140,000. 89.90% of the stock is owned by institutional investors and hedge funds.
Progenics Pharmaceuticals Inc. (NASDAQ PGNX) opened at 7.46 on Thursday. The stock’s market capitalization is $524.21 million. The stock has a 50 day moving average price of $6.50 and a 200 day moving average price of $7.15. Progenics Pharmaceuticals Inc. has a 12 month low of $4.60 and a 12 month high of $11.72.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). The company had revenue of $2.77 million for the quarter, compared to analyst estimates of $3.34 million. Progenics Pharmaceuticals had a negative return on equity of 4.11% and a negative net margin of 6.13%. Progenics Pharmaceuticals’s revenue for the quarter was down 67.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Equities analysts predict that Progenics Pharmaceuticals Inc. will post ($0.90) EPS for the current fiscal year.
Several research firms have issued reports on PGNX. Cantor Fitzgerald reissued a “buy” rating and set a $15.00 price target on shares of Progenics Pharmaceuticals in a report on Wednesday, September 27th. ValuEngine raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Needham & Company LLC reissued a “strong-buy” rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a report on Friday, September 1st. Aegis reissued a “buy” rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a report on Tuesday, August 22nd. Finally, BidaskClub lowered Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Progenics Pharmaceuticals currently has an average rating of “Buy” and an average price target of $13.20.
Progenics Pharmaceuticals Company Profile
Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s pipeline includes therapeutic agents designed to target cancer (AZEDRA and 1095); prostate specific membrane antigen (PSMA)-targeted imaging agents for prostate cancer (1404 and PyL), and imaging analysis tools.
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